Time for Another Media Blitz for Philly Public Banking!

Public Bank Advocates, the time is NOW! 

On Thursday, March 3,  City Council will vote on a bill (#210956) to create the Philadelphia Public Financial Authority, the first step toward creation of a Philadelphia Public Bank.

We need 9 votes, 12 to override the Mayor’s veto, if that’s how he rolls. 

Remember how we did this before, and that it resulted in getting 12 Council cosponsors of this bill? And then we had a unanimous vote to get it out of Committee on December 13! 

We need your help once again to move us forward in this campaign. It’s time to use our phones and computers to get Council members to commit to a yes vote. 

Here’s what you need to do:

CLICK HERE TO CONTACT COUNCIL MEMBERS TO VOTE YES ON  PUBLIC BANK BILL

No one of us needs to do a lot and doing what’s needed is easy. Just go to this tool kit to find all the resources you’ll need to send your message to City Council. Send them to your District Councilmember and to all the At Large members. 

Here’s a reminder on why creating a public bank is so important:

• Public banks open up new sources of investment capital for long-ignored local needs, like low-cost housing, neighborhood-based small business development in black and brown neighborhoods, energy conservation projects, co-op development and others
• Public banks lower city costs for infrastructure. The City now pays over $300 million a year in debt service costs, half of which consists of interest payments. Those interest payments could be cut in half or more if the City borrows the money it needs for big projects from its own bank
• Our public bank will be controlled by citizen activists and local bankers. Politicians will not direct who or what gets financing
• One day – with Philly taking the lead – there will be a network of public banks across the country that will reduce Wall Street power over the economy by moving billions of dollars now invested by megabanks to the control of local communities

Please spend just 5-10 minutes conveying your enthusiasm to Council members – you will find all the contact information you need in our toolkit. 

We were successful before. One more time and we’re across the finish line!

Thanks, everyone. Onward to financial freedom for Philadelphia!